Star Diamond Corp. currently holds 100% of the Fort à la Corne mineral dispositions (including the Star-Orion South Diamond Project). The Star-Orion South Diamond Project (the "Project") is located in central Saskatchewan some 60 kilometres east of the city of Prince Albert. The Project is in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Technical Report on the Revised Resource Estimate for the Project dated November 9, 2015 provided an updated Mineral Resource Estimate for the Star and Orion South kimberlite depositsi: Indicated Mineral Resources of 393 million tonnes containing 55.4 million carats of diamonds at a weighted average price of US$210 per carat. In addition to the Indicated Mineral Resource Estimate, the Star and Orion South Kimberlites include Inferred Resources containing 11.5 million carats. The Company has entered into an Option to Joint Venture Agreement (the "Option Agreement") with Rio Tinto Exploration Canada Inc. ("RTEC") pursuant to which the Company has granted RTEC an option to earn up to a 60% interest in the Project on the terms and conditions contained in the Option Agreement (see Star Diamond Corp. News Release dated June 23, 2017).
Revised Mineral Resource estimate:
Attractive evaluation diamond parcel
Project is close to established infrastructure: road accessible year round, future connection to grid power, skilled and semi-skilled human resources available
Project Environmental Impact Statement was prepared for the Province in Dec, 2014
Star Diamond Corp. and Canterra Minerals Corporation (formerly Diamondex Resources Limited) each hold a 33 percent interest in the Buffalo Hills project, and EnCana Corporation holds the remaining 34 percent interest. The Buffalo Hills diamond project is located ~400km northwest of Edmonton
1 NOTE: During the fourth quarter of 2015, the Company announced Revised Mineral Resource estimates for the Star and Orion South Kimberlites (see Star Diamond Corp. News Release dated November 9, 2015 and Technical Report filed December 21, 2015). Accordingly, the mineral resources and economic assessment previously disclosed by Star Diamond Corp. for the Project should no longer be relied upon.